Randsburg Announces Non-Brokered Private Placement Financing
30 Oktober 2009 - 10:05PM
Marketwired
Randsburg International Gold Corporation (TSX VENTURE: RGZ)
announced today that it has closed a non-brokered private placement
of $148,900 of its securities consisting of the sale of 1,489,000
Units at $0.10 per Unit. Each Unit consists of 1 common share and 1
non-transferable share purchase warrant. Each share purchase
warrant grants the right to purchase one common share at an
exercise price of $.20 per share for a period of two years from the
closing date provided that, if closing price of the common shares
is at or exceeds $0.40 for a period of 10 consecutive Business
Days, the expiry date of the warrant will be 30 days from the date
of notice to the holder advising the holder of the new expiry date.
Proceeds of the financing will be used for general working capital.
The Corporation also announced today that it has closed a
non-brokered private placement of up to $150,000 of its securities
consisting of the sale of 1,000,000 common shares with flow-through
tax benefits at $0.15 per share. Proceeds of the financing will be
used for the advancement of the Corporation's Titan
iron-titanium-vanadium deposit located in northern Ontario,
Canada.
The Corporation will pay a finder's fee of 148,900 broker
warrants to an agent. Each broker warrant grants the right to
purchase one common share at an exercise price of $0.20 per share
for a period of two years from the closing date. All securities
issued in respect of the warrants will be subject to a hold period
of 4 months and 1 day from this date which is the date of
closing.
On behalf of the Board of Directors of Randsburg International
Gold Corp.
Michael Opara, President and Chief Executive Officer
Copyright, 2009 - Randsburg International Gold Corporation. This
news release can be reproduced and retransmitted in whole, with no
changes permitted of any kind, including headlines, or the addition
of any headlines or other material, and providing it is supplied
and made available without charge to the end reader.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Randsburg International Gold Corp.
info@randsburginternational.com www.randsburginternational.com
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